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Altius August 9 , 2021 | St. John's , Newfoundland Altius Reports Q2 2021 Attributable Royalty Revenue of $ 21.9M and Announces Dividend Increase Altius Minerals Corporation ( TSX : ALS ; OTCQX : ATUSF ) ( " Altius " or the " Corporation " ) reports attributable royalty revenue ( 1 ) of $ 21.9 million ( $ 0.53 per share ( ¹ ) ) for the quarter ended June 30 , 2021. This represents an increase of 23 % from Q1 2021 royalty revenue of $ 17.8 million ( $ 0.43 per share ) and 68 % from its year over year comparable quarter , when $ 13.0 million was reported . Adjusted EBITDA ( 1 ) for the quarter was $ 17.7 million or $ 0.43 per share , up 21 % from Adjusted EBITDA of $ 14.6 million ( $ 0.35 per share ) in Q1 2021 , and up 76 % from the Q2 2020 comparable quarter , when $ 10 million ( $ 0.24 per share ) was reported . The adjusted EBITDA margin for the second quarter was 81 % . Adjusted operating cash flow of $ 5.8 million ( $ 0.14 per share ) compares to $ 8.8 million ( $ 0.21 per share ) in Q1 2020 and $ 13.4 million ( $ 0.32 per share ) in Q2 2020. The main factor in the lower adjusted operating cash flow during Q2 2021 is due to the timing of corporate tax installments as well as working capital changes . Net earnings in Q2 2021 are $ 14.6 million , and on an adjusted basis are $ 10.5 million or $ 0.25 per share , compared to adjusted earnings of $ 6.1 million or $ 0.14 per share in Q1 2021 and to adjusted earnings of $ 1.4 million or $ 0.04 per share in Q2 2021. The main adjusting item in the current quarter is a $ 0.16 gain on the derecognition of Adventus Mining Corporation ( " Adventus " ) as an associate and its reclassification to mining and other Investments . Adventus had been equity accounted up until Q2 this year , when Altius elected to forego its board nomination rights . Additional gains of $ 0.04 per share include foreign exchange gains and gains on disposal of mineral properties that were offset by non - cash impairment charges of ( $ 0.05 ) per share related to the Corporation's Manitoba diamond exploration properties and a charge of ( $ 0.02 ) per share related to the fair value adjustment of a derivative . The full table reconciling adjusted net earnings per share to net earnings per share is included below . Portfolio Performance Base metals ( copper , nickel , zinc and cobalt ) revenue of $ 9.4 million accounted for 43 % of total attributable royalty revenue ( 43 % Q1 2021 ) . Performance in the quarter was positively impacted by stronger metal prices but was partially offset by the mining of lower grade areas at both 777 and Chapada . Lundin Mining has tightened guidance for current year production at Chapada to 48,000 50,000 tonnes . Lundin Mining continued to aggressively drill near mine targets at Chapada in support of ongoing project expansion studies . During the quarter , Vale commenced production from its new underground Reid Brook mine while continuing work to commission the Eastern Deeps deposit at Voisey's Bay . A nominal payment was received from Gunnison related to sales of copper recovered during start - up operations . Work continued in support of a resource update and feasibility study for the El Domo deposit with results expected later this year . Altius Minerals Corporation TSX : ALS | OTCQX : ATUSF